GCC markets account for 52% of Dubai Chamber of Commerce members' exports and re-exports in 2024 with combined value of AED 161 billion
Non-GCC Middle East ern countries account ed for 24.8% of total exports, with a combined value of AED 76.8 billion.
Africa n markets rank ed third, capturing 10% of total exports with a value of AED 30.9 billion.
Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has revealed that the Gulf Cooperation Council (GCC) markets maintained their position as the leading global export and re-export destination for its members during 2024. GCC countries accounted for 52% of total exports and re-exports with a combined value of AED 161 billion, highlighting the market's significant role in members' trade activities.
Countries in the Middle East excluding GCC markets ranked second among the leading export destinations, capturing 24.8% of total exports and re-exports with a combined value of AED 76.8 billion.
African markets ranked third, accounting for 10% of members' total exports and re-exports with a value of AED 30.9 billion.
The Asia-Pacific region followed in fourth place, contributing 9.6% of total exports and re-exports with a combined value of approximately AED 29.7 billion.
European markets secured the fifth position, representing 2.5% of total exports and re-exports with a value of AED 7.9 billion. Meanwhile, North American markets ranked sixth, contributing 0.7% of exports valued at around AED 2 billion.
Latin American markets came seventh on the list, accounting for 0.5% of total exports and re-exports in 2024 with a value of AED 1.4 billion.
In a significant achievement, the total value of exports and re-exports by Dubai Chamber of Commerce members exceeded AED 300 billion for the first time since the chamber's establishment. The total value reached AED 309.6 billion during 2024, marking an impressive annual growth of 9.2%.
Follow Emirates 24|7 on Google News.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Post
an hour ago
- Arabian Post
Bold Fusion: G‑SHOCK's GA‑V01 Redefines Hybrid Timepieces
Arabian Post Staff -Dubai G‑SHOCK has released its GA‑V01 in the UAE, marking a significant step forward in hybrid timepiece design by blending analogue presence with digital clarity in a robust, contemporary form. The GA‑V01 introduces a distinctive spherical aesthetic, combining a full‑screen LCD display with striking analogue hands that pivot via a magnetic 'Shock Release Hand' mechanism. This innovation absorbs impacts by allowing the minute hand to shift under force before realigning itself, demonstrating Casio's enduring commitment to durability alongside fresh design language. ADVERTISEMENT Immediately eye‑catching and resolutely functional, the GA‑V01 is available in four finishes: matte black, silver, blue‑violet, and neon yellow. Its 49.1 × 58.2 mm resin case, though sizeable, remains lightweight at approximately 74 g. The timepiece offers 200‑metre water resistance, dual LED illumination for analogue and digital elements, a 1/100‑second chronograph, multiple alarms, world‑time, countdown timer, and an auto calendar, all supported by a 10‑year battery. Origins of the GA‑V01 trace back to the brand's earliest prototypes, notably Kikuo Ibe's 1980s rubber‑ball concept. This heritage is reinterpreted in the model's organic form and smooth edges, paired with bold external hour markers that contrast the large display glass. Since its debut in China earlier this year, the GA‑V01 has expanded into Europe, the United States, and now the UAE market. Middle East availability coincides with CASIO Middle East & Africa's concentration on accessible innovation, aligning seamlessly with the brand's regional strategy. Watch‑industry commentators highlight the GA‑V01 as emblematic of a broader shift in consumer demand: a convergence of technical resilience and fashion‑forward design. Industry blog aBlogtoWatch describes the form as 'out‑of‑this‑world,' while G‑Central points to its dual LED lighting, integrated bezel‑band design, and magnetic-hand engineering as hallmarks of a new hybrid era. Geek‑style outlet Absolute Geeks focuses on the model's 'reinterpreted silhouette,' noting its design steers clear of excessive embellishment, favouring a streamlined aesthetic that complements both streetwear and casual ensembles. Priced at around AED 515, the GA‑V01 is positioned as an affordable but thoughtfully engineered timepiece—mere dollars above the GA‑2100 series—offering substantial technical gains including extended battery life, dual lighting, magnetic components, and shock‑tolerant hands. Within the broader context of wearable tech, Casio's strategy remains distinct. Rather than pursue smartwatch connectivity, the GA‑V01 doubles down on classic G‑SHOCK virtues: unparalleled toughness, readability, battery longevity, and contemporary build. Magzoid describes this direction as part of an 'Open V World' thematic vision that emphasises futuristic Y3K aesthetics while maintaining functionality and durability. Retail uptake and consumer feedback suggest growing endorsement among fashion shoppers and gadget enthusiasts alike. The magnetic hand mechanism, while novel, raises questions. Hodinkee's hands‑on review notes users might momentarily observe hand misalignment after impact, but reassures the mechanism self‑corrects within minutes. This iterative return‑to‑centre feature could shape expectations around hybrid durability, bridging the gap between traditional mechanical reassurance and digital precision. The watch's relative lightness—just 76 g including resin strap—also contributes to comfort over extended wear. In markets such as the UAE, consumers increasingly seek accessories that are practical yet expressive. The GA‑V01's balance of visual boldness and built‑in resilience places it firmly within this growing niche. CASIO Middle East & Africa has already scheduled a pop‑up launch at Singapore's Limited Edt Vault on 14 June 2025, signalling a coordinated regional rollout strategy. By aligning functional engineering with contemporary taste, the GA‑V01 pursues a hybrid watch concept for those uninterested in smartwatches yet desiring modern flair. The challenge facing Casio now is sustaining consumer intrigue as watch design trends evolve toward personalisation and tech‑lite utility.
Arabian Post
an hour ago
- Arabian Post
Abu Dhabi Emerges as Regional Financial Powerhouse
Abu Dhabi Global Market has recorded a substantial leap in its development as a financial hub, marking a more than 30 per cent increase in registered firms last year and a remarkable 245 per cent surge in assets under management. Such gains stem from the emirate's strategic mobilisation of its nearly US $2 trillion in sovereign wealth, aimed at diversifying its economy beyond its dominant oil sector. This year's first quarter performance continued its strong momentum. ADGM issued 67 per cent more new operating licences, lifting its total to over 2,380 active firms. Global financial giants including BlackRock, Morgan Stanley, and PGIM now operate from its jurisdiction, while hedge fund Marshall Wace has also established a presence. These entrants reflect a growing appetite from asset managers and institutions from Asia, particularly Japan, India, and China. Abu Dhabi's sovereign funds, notably Mubadala and Abu Dhabi Investment Authority, continue to deploy capital into future-facing industries. Mubadala's assets rose by 9 per cent to AED 1.2 trillion in 2024, with heavy investment in technology, manufacturing, AI and advanced manufacturing driving growth. Its subsidiary, MGX, recently committed US $2 billion in cryptocurrency-related investments. ADVERTISEMENT Concurrently, Fortress Investment Group established a dedicated office in Abu Dhabi, appointing Charles Spetka to lead its regional operations. The move, part of a US $1 billion co-investment arrangement with Mubadala, highlights the emirate's expanding appeal not only in asset management but also in private credit and real estate. ADGM emphasises technological innovation within its development strategy. It remains one of the few jurisdictions globally to apply English common law directly and has implemented a robust digital framework. Most recently, ADGM launched a mobile application facilitating regulatory updates, licence renewals, compliance services and an electronic real estate transaction platform—claiming to be the first of its kind in the region. Blockchain initiatives have also been bolstered, with players like Stacks Asia and Bitgrit entering its distributed ledger ecosystem. In parallel, the emirate is positioning itself as a regional AI and data services centre. Abu Dhabi's G42, a state-linked tech firm, is spearheading the Stargate UAE initiative: a globally significant AI campus due to launch in 2026, hosting some of Nvidia's most advanced chips and planned in collaboration with US tech firms such as OpenAI, Cisco and Oracle. Despite some US regulatory hesitancy over technology transfers, Abu Dhabi remains determined to finalise the project. The Gulf region as a whole is embracing artificial intelligence as a tool to reshape its economic trajectory. Saudi Arabia and the UAE anticipate an AI-driven contribution of up to US $150 billion to their economies, deploying extensive investment in infrastructure and talent. However, both countries face challenges including regulatory frameworks, education systems, and ensuring data governance standards. Despite ADGM trailing behind Dubai International Financial Centre in absolute scale, its growth trajectory is notable. DIFC saw a 55 per cent jump in 2024 operating profit, even as Abu Dhabi recorded 32 per cent growth in firm registrations. Abu Dhabi's strategic focus on regulation, legal clarity, and sovereign-backed projects seem to be delivering results. The UAE non-oil sector's expansion remains robust, though momentum softened slightly in May, with PMI moderating to 53.3—its weakest level since September 2021. Rising demand nonetheless sustains a positive trajectory for ADGM's operations and Abu Dhabi's broader economic reform agenda. Collectively, these developments indicate a deliberate, well-funded shift by Abu Dhabi from purely petrochemical wealth to financial services and technology leadership. The interplay between sovereign wealth deployment, modern legal frameworks, digital innovation and ambitious projects like Stargate suggest Abu Dhabi is positioning itself as a serious global competitor for capital, tech investment and talent.
Zawya
an hour ago
- Zawya
Iridium and Copley Fund Research partner to unlock GCC investor relations potential
The partnership combines Iridium's consulting expertise with Copley's fund-level data to equip GCC companies with insights to expand their investor base. Early adopters gain a competitive edge by advancing investor relations and attracting GEM funds Dubai - Iridium Advisors, the MENA region's leading investor relations consultancy, has partnered with Copley Fund Research, the leading provider of Global Emerging Markets (GEM) fund data and insights. This exclusive partnership offers GCC-listed companies a unique tool to identify and engage more strategically with the world's largest emerging market investors. The GCC region has seen explosive growth in foreign investment since 2018, driven by the inclusion of four GCC countries (Kuwait, Qatar, Saudi Arabia and UAE) in the Emerging Market universe. Yet, significant untapped potential remains, with only 57% of GEM funds currently allocating to Saudi Arabia and 63% to the UAE. Additionally, overweight positions in GCC markets are far fewer compared to more mature emerging markets, signalling substantial untapped potential. However, many companies struggle to engage effectively with global institutional investors, limiting their access to foreign capital. The exclusive partnership addresses these challenges by combining Iridium's deep regional expertise with Copley's market-leading fund data. GCC public companies now have the ability to analyse the world's largest emerging market fund allocations, pinpoint high-potential investors, and engage directly with investment decision-makers through tailored IR strategies. Companies that adopt these tools early will gain a measurable advantage, enhancing their market presence and attracting international investors. 'This partnership with Copley Fund Research is a game-changer for public companies looking to compete for institutional capital on a global scale,' said Oliver Schutzmann, CEO of Iridium Advisors. 'By combining Iridium's strategic advice with Copley's fund insights, we enable listed companies to stand out in competitive capital markets, attract new investors, and unlock their full valuation potential.' Steven Holden, CEO of Copley Fund Research, added: 'The GCC is an exciting but underinvested region for active Global Emerging Market investors. With strong economic fundamentals and increasing corporate transparency, we are confident this partnership will help drive greater interest and investment into the region. Our collaboration with the market leader marks a new chapter for GCC investor relations, empowering companies to seize the growing opportunities in foreign institutional investment.'
